# Regional Jackknife (Z_1 → gross_assets_gdp)

*Full-sample Z_1 = -1396.7*

| Region Dropped | Countries Dropped | Z_1 Coef | SE | p-value | Sig | N |
|---|---|---|---|---|---|---|
| East Asia & Pacific | 20 | -1562.5 | 650.4 | 0.0163 | ** | 4,737 |
| Europe | 40 | -1803.3 | 670.7 | 0.0072 | *** | 4,183 |
| Latin America | 21 | -1434.5 | 642.7 | 0.0257 | ** | 4,687 |
| Middle East & North Africa | 16 | -1690.8 | 800.4 | 0.0347 | ** | 4,808 |
| North America | 3 | -1404.1 | 597.9 | 0.0189 | ** | 5,205 |
| South Asia | 8 | -1481.9 | 623.2 | 0.0174 | ** | 5,071 |
| Sub-Saharan Africa | 45 | -1596.5 | 708.1 | 0.0242 | ** | 4,023 |

*Regional jackknife: test whether results are driven by any single region.*